RASAP
Recycles dryer sheets
- Joined
- May 18, 2006
- Messages
- 120
When I retire I will roll my company 401(k) over to a Vanguard IRA. I plan to start receiving Social Security benefits as soon as I can (62 years). There are a couple of issues with reduction of SS benefits and taxation of SS benefits that I am trying to get straight so, here are my questions:
1. Does the money I withdraw from my IRA count toward the income that is considered when determining how much of my Social Security benefits are taxable?
2. While under full retirement age (66 years), SS benefits are reduced by $1 for every $2 earned above $12,480. Does the money I withdraw from my IRA count toward the $12,480 limit?
Thanks for your help.
1. Does the money I withdraw from my IRA count toward the income that is considered when determining how much of my Social Security benefits are taxable?
2. While under full retirement age (66 years), SS benefits are reduced by $1 for every $2 earned above $12,480. Does the money I withdraw from my IRA count toward the $12,480 limit?
Thanks for your help.